#TrumpBTCBoomOrBust
Bitcoin started the new week on a positive note, capturing the attention of investors. The rise in Spot CVD, supported by spot buying, indicates growing momentum. Particularly, the fact that Coinbase is active in buying is a highly positive signal for the market. Additionally, whale activity has climbed back to +18, reflecting strong participation and confidence from large holders.
Technical Indicators and Resistance Levels
Bitcoin has tested the $100K resistance level three times but failed to break above it. This resistance also aligns with the Fibonacci 0.5-0.618 range, making it a significant barrier. While current market data is overwhelmingly positive, breaking this resistance is crucial for further upward movement.
On the other hand, funding rates remain low, and long positions do not dominate the market, which suggests a balanced and healthy market environment. This reduces the risk of short-term corrections.
Volume and Volatility Expectations
During the past two holiday weeks, the market was quiet, with low volume and sideways movement. However, starting this week, the market is expected to gain volume and see increased volatility. This could create more opportunities for both Bitcoin and altcoins.
Conclusion and Outlook
Overall, Bitcoin is in a short-term positive trend. However, breaking the $100K resistance is essential for stronger momentum. As market volume and volatility are anticipated to rise this week, investors may find more trading opportunities. It’s advisable to keep an eye on key technical levels when shaping strategies.